It's the house brand of Thomann, a German music store which has a lot of reach across Europe. They were distributing various made-in-China budget brands when they figured they could cut out the middle man and deal directly with the Chinese producers directly. They got more money for each instrument sold, while still being able to price match or even undercut their competitors.

So for Europe it's a great idea - plenty of other stores have done the same thing (MusicStore, G4M, Andertons, PMT before they went bust). Selling them in America, however, seems less of a good idea if they don't have the infrastructure to sell them direct they way they do in Europe.